FxWirePro: NZD/USD gains on Trump's trade truce, faces resistance at 0.6658.
The New Zealand dollar rose, extending previous session rebound after the United States and China signed an initial deal to defuse their 18-month trade war. On Wednesday, the United States and China signed a Phase 1 deal…
The New Zealand dollar rose, extending previous session rebound after the United States and China signed an initial deal to defuse their 18-month trade war.
On Wednesday, the United States and China signed a Phase 1 deal that will roll back some tariffs and boost Chinese purchases of U.S. products.
The Kiwi was trading 0.3 percent up at 0.6633, having hit a low 0.6583 in the previous session, its lowest since December 19.
The major bounced from support at 0.6586, and now faces major resistance at 0.6658.
Technical indicators are biased higher: RSI strong at 55.17 and Stochs have rolled over from oversold levels.
Immediate resistance is located at 0.6658, a break above could take it near 0.6680.
On the downside, support is seen at 0.6600, a break below could drag it till 0.6549 (55-EMA).
